NEW YORK, NY / ACCESSWIRE / October 8, 2018 / U.S. equities plunged on Friday as concerns over rising interest rates countered upbeat economic data. U.S. unemployment rate dropped to 3.7 percent, its lowest since 1969, while wages rose by 2.8 percent in September, compared to the last year of the same month. The Dow Jones Industrial Average fell 0.68 percent to close at 26,447.05, while the S&P 500 Index decreased 0.55 percent to close at 2,885.57. The Nasdaq Composite Index shed 1.16 percent to close at 7,788.45.
According to Peter Cardillo, chief market economist at Spartan Capital Securities, ?Wages are definitely trending higher, which is an alarming point for the market. That will likely keep the bond market under pressure, which means that yields will move higher and the dollar will continue to strength. All of that will weigh on stocks.? ?I?m cautiously optimistic about equities going forward, but we?re looking at a lot of volatility in the short term and I believe we?re entering a defensive market,? he added.
RDI Initiates Coverage on:
Aurora Cannabis Inc. https://rdinvesting.com/news/?ticker=ACBFF
Aphria Inc. https://rdinvesting.com/news/?ticker=APHQF
Aurora Cannabis’ stock jumped 4.36% Friday, to close the day at $9.872. The stock recorded a trading volume of 6,312,772 shares, which was above its three months average volume of 6,213,231 shares. In the last year, Aurora Cannabis’ shares have traded in a range of 2.11 – 12.30. The share price has gained 367.87% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $7.733 is above its 200-day moving average of $6.679. Shares of Aurora Cannabis have gained roughly 60 percent in the past month and are up 29.38 percent year-to-date.
Access RDI’s Aurora Cannabis Inc. Research Report at: https://rdinvesting.com/news/?ticker=ACBFF
On Friday, shares of Aphria recorded a trading volume of 916,146 shares, which was below the three months average volume of 1,807,701 shares. The stock ended the day 0.71% lower at $12.59. The share price has fallen 36.64% from its 52 week high with a 52 week trading range of 5.07 – 19.87. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $13.46 is above its 200-day moving average of $9.87. Shares of the company are trading at a Price to Earnings ratio of 93.26. Shares of Aphria have fallen roughly 18.72 percent in the past month and are down 14.64 percent year-to-date.
Access RDI’s Aphria Inc. Research Report at: https://rdinvesting.com/news/?ticker=APHQF
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